InsurTech Magazine September 2020 | Page 91

03

Lemonade

Valuation : $ 2bn

Lemonade positions itself as insurtech which offers an incomparable level of service ; measuring success by the satisfaction of its customers and the speed of its payouts - it claims 30 % are paid within seconds . The company is currently trialling the world ’ s first open-source collaborative insurance policy in Germany and the Netherlands : Policy 2.0 . An innovative product which makes use of cutting-edge technology , Policy 2.0 combines an anti-theft package , house contents cover , natural disaster and personal liability coverage with a highly transparent layout to streamline the entire experience . Lemonade ’ s AI bots can also help customers buy a policy in seconds through a straightforward series of questions . Furthermore , the company ’ s ‘ Giveback ’ model allows customers to donate unclaimed money towards causes they personally care about .

91 2015 YEAR FOUNDED

Daniel Schreiber

CEO

USA

COUNTRY insurtechdigital . com